The Energy Department held its projection for diesel prices from a previous forecast, saying trucking’s main fuel would average $2.28 per gallon this year and $2.55 in 2010.
February 10, 2009BusinessGovernment
UPS, Postal Service Set Retail-Return Partnership
UPS Inc. said Tuesday it is partnering with the U.S. Postal Service for a new retail-return service in which consumers can send returns by UPS via their own mailboxes.
February 10, 2009GovernmentBusiness
Senate Approves $838 Billion Stimulus
The Senate approved Tuesday the $838 billion economic stimulus bill proposed by President Obama, the Associated Press reported.
February 10, 2009Business
GM Announces New Job, Salary Cuts
General Motors Corp. said Tuesday it would cut 10,000 jobs, or about 14% of its worldwide workforce, by the end of the year as part of its plan to show that it is a viable company.
February 10, 2009BusinessLogistics
Expeditors’ 4Q Income Improves
Logistics firm Expeditors International of Washington said its fourth-quarter net income rose 11% to $77.7 million, or 36 cents a share, from $70.1 million, or 32 cents, a year ago.
February 10, 2009BusinessLogistics
Logistics Concerns Could Reduce Overseas Manufacturing
Companies are considering moving their manufacturing away from foreign countries as off-shore manufacturing costs increase, a survey released Monday said.
February 10, 2009GovernmentBusinessSafety
Vitran Reports Fourth-Quarter Loss
Vitran Corp. said Tuesday it lost $ $3.2 million, or 23 cents a share, compared with a profit of $1.7 million, or 12 cents, a year earlier.
February 10, 2009GovernmentBusinessFuel
Forward Air’s 4Q Income Drops
Forward Air Corp. said Tuesday its fourth-quarter earnings fell 33% to $8.3 million, or 29 cents a share, from $12.4 million, or 43 cents, a year ago.
February 10, 2009FuelBusiness
Diesel Drops 2.7¢ to $2.219
Diesel fuel fell 2.7 cents to $2.219 a gallon, continuing a 30-week downward trend and leaving it at the lowest level in nearly four years, the Department of Energy said Monday.
February 10, 2009BusinessGovernment
FedEx Freight Cutting 900 Jobs
FedEx Freight, the less-than-truckload unit of FedEx Corp., will cut 900 jobs because of declining demand and aggressive pricing by competitors, Bloomberg reported Monday.
February 9, 2009